Top 10 most important questions
Choosing a mortgage is one of the biggest financial decisions you’ll make, and having the right advisor by your side can make a world of difference. But to get the most out of your mortgage advice, you need to ask the right questions.
Whether you’re a first-time buyer, remortgaging, or investing in a buy-to-let, here are the top questions to ask your mortgage broker before you commit.
1. Do you have access to the Whole of Market?
This means your broker can access mortgage deals from a wide range of lenders, not just a limited panel. It gives you a better chance of finding the right deal for your circumstances.
2. What Deposit Will I Need?
Depending on the lender and your situation, you might need anything from 5% to 25% or more. Your broker can also explain how deposit size affects interest rates.
3. What Type of Mortgage is Best for Me?
Fixed-rate? Tracker? Offset? Your broker should explain the pros and cons of each option based on your financial goals and monthly budget.
4. How Much Can I Borrow?
They should assess your income, outgoings, and credit profile to give you a realistic borrowing range, and help you avoid overstretching.
5. What Fees Do You Charge?
Some brokers charge a flat fee, some charge a percentage of the mortgage, and others are paid by the lender. Always ask upfront so there are no surprises later.
6. How Long Will the Application Take?
Some lenders move faster than others. Your broker should give you a timeline from decision in principle to full mortgage offer.
7. Will My Credit Score Affect My Application?
A good broker will explain how your credit history might impact your choices, and suggest steps to improve your profile if needed.
8. Can You Help with Protection Too?
It’s worth asking about life insurance, critical illness cover, or income protection. These policies can safeguard your home if your circumstances change.
9. What Happens After My Mortgage Is Approved?
Your broker should help guide you right through to completion, including chasing solicitors, liaising with estate agents, and making sure the lender has everything they need.
10. Will You Review My Mortgage in the Future?
Great brokers offer ongoing support and will check in when your deal is due to expire to help you avoid slipping onto a higher standard rate.
how we can help
At Windsor Hill Mortgages, we welcome your questions and we believe there’s no such thing as a silly one.
Our friendly team offers clear, honest advice and walks with you every step of the way. We’re whole-of-market and here to help you feel confident in every decision.
📞 Call us on 01225 962456
📧 Email us at enquiries@windsorhillmortgages.co.uk